Grove Bank & Trust Cuts Stake in SAP SE (NYSE:SAP)

Grove Bank & Trust lowered its position in SAP SE (NYSE:SAP) by 13.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 569 shares of the software maker’s stock after selling 90 shares during the period. Grove Bank & Trust’s holdings in SAP were worth $140,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Holocene Advisors LP purchased a new stake in shares of SAP during the third quarter valued at approximately $10,869,000. JPMorgan Chase & Co. boosted its stake in shares of SAP by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 548,469 shares of the software maker’s stock valued at $125,654,000 after purchasing an additional 7,667 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of SAP by 1,496.4% during the third quarter. Benjamin Edwards Inc. now owns 8,940 shares of the software maker’s stock valued at $2,048,000 after purchasing an additional 8,380 shares during the period. Creative Planning boosted its stake in shares of SAP by 18.0% during the third quarter. Creative Planning now owns 95,434 shares of the software maker’s stock valued at $21,864,000 after purchasing an additional 14,546 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SAP by 644.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,330 shares of the software maker’s stock valued at $37,648,000 after purchasing an additional 142,270 shares during the period.

SAP Price Performance

SAP opened at $262.74 on Tuesday. The stock has a fifty day simple moving average of $245.68 and a two-hundred day simple moving average of $228.29. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.17. The company has a market cap of $322.77 billion, a price-to-earnings ratio of 105.09, a price-to-earnings-growth ratio of 3.56 and a beta of 1.22. SAP SE has a 12-month low of $158.94 and a 12-month high of $264.71.

SAP (NYSE:SAP) last issued its quarterly earnings results on Monday, October 21st. The software maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.31 by ($0.08). SAP had a net margin of 8.15% and a return on equity of 11.44%. The company had revenue of $8.47 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. SAP’s revenue was up 9.4% compared to the same quarter last year. Research analysts predict that SAP SE will post 4.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SAP has been the subject of a number of analyst reports. Kepler Capital Markets raised SAP from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. BMO Capital Markets raised their price target on SAP from $248.00 to $265.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Barclays raised their price target on SAP from $252.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. TD Cowen raised SAP from a “hold” rating to a “buy” rating and raised their price target for the stock from $240.00 to $305.00 in a research note on Friday. Finally, JMP Securities raised their price target on SAP from $245.00 to $300.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 22nd. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $263.17.

SAP Company Profile

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management.